Job Market Slowdown: Hiring Drops, Quits Plunge

0:00It's March 31st. This is Canada News today, powered by AI. Job openings dropped to 6.9 million in February, down from 7.2 million a month before, signalling a slowdown in the U.S. labor market. Hiring hit 4.85 million, the lowest since April 2020, with a hiring rate falling to 3.1%. Quits also plunged to 2.97 million, fewest since August 2020, while layoffs ticked up. This points a caution from the Iran war spiking gas prices over $1.00 a gallon, plus high interest rates, policy uncertainty, and AI shaking. Things up as reasons for the stall. Net job growth has been weak. Under 10,000 a month this year, outside recessions since 2002, January added 126,000, but February lost 92,000. March reports due Friday could show 60,000 added. Net employment holds steady at 4.4% in this low higher, low fire setup, where firms cling

1:00to workers amid AI fears for entry level, roles, but the vibe stays tense heading forward.